Connor Clark & Lunn Investment Management Ltd. Purchases 62,557 Shares of Alkami Technology, Inc. (NASDAQ:ALKT)

Connor Clark & Lunn Investment Management Ltd. grew its holdings in Alkami Technology, Inc. (NASDAQ:ALKT - Free Report) by 65.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 157,806 shares of the company's stock after buying an additional 62,557 shares during the quarter. Connor Clark & Lunn Investment Management Ltd. owned approximately 0.15% of Alkami Technology worth $4,142,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Perkins Coie Trust Co increased its stake in shares of Alkami Technology by 62.5% in the first quarter. Perkins Coie Trust Co now owns 1,300 shares of the company's stock valued at $34,000 after buying an additional 500 shares in the last quarter. Versant Capital Management Inc acquired a new stake in shares of Alkami Technology in the first quarter valued at $36,000. Amalgamated Bank increased its stake in shares of Alkami Technology by 50.8% in the first quarter. Amalgamated Bank now owns 2,091 shares of the company's stock valued at $55,000 after buying an additional 704 shares in the last quarter. NBC Securities Inc. increased its stake in shares of Alkami Technology by 114,550.0% in the first quarter. NBC Securities Inc. now owns 2,293 shares of the company's stock valued at $60,000 after buying an additional 2,291 shares in the last quarter. Finally, Quarry LP acquired a new stake in Alkami Technology in the fourth quarter worth about $61,000. 54.97% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Alkami Technology news, Director Atlantic Genpar (Bermu General acquired 650,000 shares of the business's stock in a transaction dated Monday, August 11th. The shares were acquired at an average price of $20.70 per share, for a total transaction of $13,455,000.00. Following the acquisition, the director directly owned 11,287,274 shares of the company's stock, valued at approximately $233,646,571.80. This trade represents a 6.11% increase in their position. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO W Bryan Hill sold 20,365 shares of Alkami Technology stock in a transaction dated Monday, June 2nd. The shares were sold at an average price of $28.36, for a total value of $577,551.40. Following the transaction, the chief financial officer owned 430,255 shares in the company, valued at $12,202,031.80. This trade represents a 4.52% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have purchased 1,396,162 shares of company stock worth $29,692,440 and have sold 27,690 shares worth $785,288. Company insiders own 18.10% of the company's stock.

Alkami Technology Trading Up 1.9%

ALKT traded up $0.43 during midday trading on Friday, reaching $23.08. 2,188,738 shares of the company were exchanged, compared to its average volume of 1,693,736. The company has a debt-to-equity ratio of 1.17, a quick ratio of 2.68 and a current ratio of 2.68. Alkami Technology, Inc. has a one year low of $19.94 and a one year high of $42.29. The stock has a market capitalization of $2.40 billion, a P/E ratio of -60.74 and a beta of 0.57. The stock's 50-day simple moving average is $27.03 and its 200 day simple moving average is $28.02.

Analyst Ratings Changes

ALKT has been the subject of a number of research reports. Lake Street Capital lowered their price objective on Alkami Technology from $47.00 to $41.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. JMP Securities reiterated a "market outperform" rating and issued a $46.00 price objective on shares of Alkami Technology in a research report on Thursday, May 1st. Needham & Company LLC lowered their price objective on Alkami Technology from $54.00 to $40.00 and set a "buy" rating for the company in a research report on Thursday, May 1st. Finally, JPMorgan Chase & Co. assumed coverage on Alkami Technology in a research report on Wednesday, June 18th. They issued an "overweight" rating and a $40.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $39.25.

Alkami Technology Company Profile

Alkami Technology, Inc offers cloud-based digital banking solutions in the United States. The company's Alkami Platform allows financial institutions to onboard and engage new users, accelerate revenues, and enhance operational efficiency, with the support of a proprietary, cloud-based, and multi-tenant architecture.